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Ripple dropped a little in the short term but it could still resume its growth. It's trading at 0.3895 at the time of writing. After its strong growth, a minor retreat was natural. It could test and retest the immediate downside obstacles before jumping higher.
In the last 24 hours, XRP/USD is up by 1.16% and by 4.63% in the last 7 days. Technically, the price action signaled that the downside seems limited. Bitcoin's rebound helped the altcoins to gain ground.
Technically, the rate failed to stay above the 0.4015 static resistance. Now, it has dropped a little but the bias is bullish as long as the token stays above the uptrend line.
The upper median line (uml) represents a dynamic resistance. Staying near this dynamic resistance may signal an imminent breakout.
A valid breakout through 0.4015 and above the upper median line (uml) confirms further growth. This brings long opportunities.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
